The present invention relates generally to a system for use in on-line shopping, and more particularly, to a computer system that enables a user to have real time access to product/service information and direct product/service ordering from multiple merchants.
On-line shopping is typically conducted through a network host that maintains product/service information from a variety of merchants, takes orders from the network host's customers and forwards the orders to the respective merchant. However, this is merely one step in a multiple step process. Before this transaction may take place, several preliminary steps must be accomplished. First, each participating merchant forwards product information and pricing to the network host for posting to the network to solicit purchasers. This product information and pricing is usually transferred to the network host through conventional mail, telephone service or by sending such information to the appropriate on-line address at the network host. The network host then compiles, classifies, sorts, stores and displays the product information on-line to network host customers that request such information.
For several reasons, the product information may vary from day-to-day. The above described process may involve a significant time lag between the time that the merchant sends the product information to the network host and the time the potential consumer receives the product information. Therefore, merchants must account for such a time lag and must provide conservative estimates on the product information. Merchants must anticipate market fluctuations in pricing and availability and must hedge against such market changes. For example, a merchant may send product information to the network host regarding a specific product. Customer demand for such a product may dramatically increase and more orders for the product may be placed with the merchant through the network host than was anticipated by the merchant. The merchant may then receive more orders for the product than the merchant can readily provide. Product orders must then be placed on back-order or remain unfilled indefinitely. The merchant is unhappy at his inability to fill the orders and receive the profits based on the orders received but unfilled. Customers are unhappy at not receiving their merchandise on a timely basis and may be forced to acquire such products elsewhere at a higher cost or they may forgo the purchase altogether.
Additional problems exist for the customer who wants to purchase a given product or service. Previously, such customers were required to "shop" one merchant at a time. A customer had to access the database of one merchant, collect information regarding the desired product or service, store the information, access another merchant's database and again collect information regarding the desired product or service. This process had to be repeated for each merchant. Thus, the process required the customer to "shop" all available merchants before deciding the merchant from whom the customer was going to purchase. This process is complicated by the fact that many customers may have vague or indefinite parameters defining the selection criteria and parameters. For instance, a customer may know that pants are required but may not be able to sufficiently narrow the criteria into styles of pants or name brands. Here, the customer would need to browse each individual merchant's wares and by that scan many undesirable pants. Additionally, as the customer successively "shops" individual merchants, the customer may learn to narrow or change the parameters for the search. The customer may then want to repeat the shopping already accomplished. The above described process is time consuming. Such time consumption can be especially important when accessing an on-line service that charges the user based on on-line time.
There is a need to provide product/service information for multiple merchants in real time to a potential customer that would otherwise not be available for weeks or months. In this age of daily market fluctuations, it is advantageous to a potential customer to be able to have accurate, real time information concerning product availability and pricing for multiple merchants. As product pricing and availability fluctuate and differ between merchants, the importance to the customer of being able to respond to those fluctuations and differences on a timely basis increases. A customer can decide in real time whether to purchase one product over another product or whether to purchase a product from one merchant over another merchant.
The present invention is designed to provide a user with real time product/service information, from a variety of merchants, in a format that is understandable and informative. The present invention is unique in that never before has there been a network system that conducts a search of multiple sources of shopping information, in substantially real time, and presents the results to the user in one organized presentation.
The present invention is a sophisticated computerized system by which various merchants may be electronically connected to a computer network such as the CompuServe.RTM. network. Value added software is provided at the network to assimilate the data collected from various and multiple merchants in real time, to place the data in an understandable format for preferably a single presentation to the user. The user receives the assimilated data from the various and multiple merchants through an electronic connection (via modems) between the user's computer and the network. A program on the user's computer can capture the formatted data supplied by the network and prepare it for display or analysis. In an alternate configuration the merchant is electronically connected to a regional host. The regional host is equipped to receive product/service information from the merchant. The regional host is then electronically connected to the computer network.
The system of the present invention has many advantages over known product/service information management methods. First, the present invention offers a "real time" picture of available products and/or services from multiple and varied merchants. Second, the present invention allows a merchant the ability to react in "real time" to the demand. Third, the present invention offers the capability to a user of acquiring various merchants' product/service information in one understandable format that is currently not available by other methods.
These and other advantages will be apparent from the following detailed description of the invention, drawings, and claims.